Rhode Island Real Estate Market: Forecasts + Trends

Clever Real Estate's Photo
By Clever Real Estate Updated February 20, 2023

SHARE

Rhode Island real estate trends

Real estate trends in Rhode Island | Sellers | Buyers | Investors | The best and worst of Rhode Island | Rhode Island resources

Spanning just 1,214 square miles, Rhode Island is the smallest state in nation — but don't let its size fool you. Throughout its history, the Ocean State has been the site of tireless innovation.

For example, Rhode Island hosted the nation's first open golf tournament, boasts the nation's oldest carousel, and today keeps a thriving folk art tradition alive. Notable cities include Providence, Newport, and Warwick, but large stretches of the state are still considered rural.

Perched on the Atlantic coast between Massachusetts and Connecticut, Rhode Island's weather is defined by snowy New England winters and brisk sea breezes in the summertime.

If you're thinking of buying or selling in Rhode Island, these Rhode Island housing predictions and stats can help you make an informed decision.

Want to save money when you buy or sell your home? With Clever, you'll only pay 1.5% or $3K in listing fees. Eligible buyers get cash back after closing. Find out how much you can save with Clever today!

Selling a home in Rhode Island

Rhode Island real estate market forecast for sellers
⏰ Homes are selling 1 days faster than the annual average 💰 Homes are selling for $33,521 less than the annual average
💸 Average listing commission: 3.00% 💸 Average buyer's commission: 2.50%
Show more

How to sell a home in Rhode Island

Cost to sell a home in Rhode Island

💰 Save thousands on realtor fees with Clever

List with the best agents in your area for just 1.5%. On average, Clever sellers save $7,000 on commission!

Our agent matching service is 100% free with zero obligation.

Buying a home in Rhode Island

How much home you can buy with $300,000 in...
🏠 Providence: 977 sq ft
Show more

Investing in Rhode Island real estate

Best of Rhode Island

💡 Did you know…

The Clever Data Center ranked Providence, Rhode Island as one of the top 5 best cities in the nation for coffee?

With about 23 cafes per capita, Rhode Islanders can try a wide variety of coffee drinks while still spending less than the national average on their daily pick-me-up.

» Thirsty for more info? ☕ Read our full study here: The Best Coffee Cities in America

Each month, we compare locations in Rhode Island based on different criteria. This month, we're looking at levels of happiness and ranking the best counties in the state.

Happiest Counties in Rhode Island
1. Bristol County
2. Newport County
3. Washington County
Show more

Ready to buy a home in Rhode Island? Eligible buyers get cash back with Clever!

Worst of Rhode Island

Each month, we compare locations in Rhode Island based on a different criteria. This month we're looking at levels of happiness data. These are the counties that ranked the worst in the state.

Least Happy Counties in Rhode Island
1. Providence County
2. Kent County
Show more

Rhode Island resources

👋 Next Steps: Talk to an expert

If you're weighing your options for buying or selling a house, Clever can help!

Our fully licensed concierge team can answer your questions and provide objective advice on getting the best outcome with your sale or purchase.

When you enter your info below, we'll ask you a few questions about your situation via a short form. Then our concierge team will be in touch shortly to help.

This service is free, and there’s never any obligation to move forward with us.

Frequently asked questions about Rhode Island real estate

Is it a buyer's or seller's market in Rhode Island?

Currently, it's a seller’s market in Rhode Island, however it's beginning to cool off. Although homes are still selling quickly, sellers have started reducing listing prices to attract buyers. And while that may be the case across the state, each city and town is different, so it’s best to consult with a real estate agent to understand your local trends.

Is Rhode Island a good state to invest in real estate?

Investing in Rhode Island real estate is a good idea, particularly in cities like Providence, where people are always looking for housing. However, to make the most from your investment, you'll need to research which types of properties are profitable and which neighborhoods are desirable. Learn more in our guide to real estate investing.

Is it a good time to buy a house in Rhode Island?

It might be a good time to buy a house in Rhode Island right now. Listing prices are lower than usual, but inventory is still low which might lead to bidding wars on prime properties. To find the best deal, work with one of the top real estate agents in the state.

Methodology

Clever's analysis of state market trends is based on local data from Zillow, realtor.com, Redfin, Bankrate, the U.S. Census, and Clever surveys. Our team of over 20 real estate analysts from across the country research local markets and data to compile our "Best" and "Worst" rankings.

Better real estate agents at a better rate

Enter your zip code to see if Clever has a partner agent in your area
If you don't love your Clever partner agent, you can request to meet with another, or shake hands and go a different direction. We offer this because we're confident you're going to love working with a Clever Partner Agent.